CUENasdaqPharmaceutical PreparationsUS GAAP · USD

Cue Biopharma, Inc.

Cue Biopharma is a clinical-stage biopharmaceutical company developing injectable precision immunotherapies designed to selectively modulate disease-relevant T cells. Its core Immuno-STAT platform is being applied to oncology and autoimmune disease, with most of the company’s activity still centered on research, development, and partnering rather than product sales.

Kysy yhtiöstä
Liikevaihto27,5milj. USD
+195,7 %v/v
Liikevoitto (EBIT)−26,6milj. USD
+36,0 %v/v
EBIT-marginaali−96,7%
+350,2 %-yks.v/v
Nettotulos−26,6milj. USD
+34,6 %v/v
Vapaa kassavirta−21,9milj. USD
+39,9 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−60−40−2002040milj. USD2020: 3,2 milj. USD2020: EBIT −45 milj. USD20202021: 15 milj. USD2021: EBIT −44 milj. USD20212022: 1,2 milj. USD2022: EBIT −53 milj. USD20222023: 5,5 milj. USD2023: EBIT −52 milj. USD20232024: 9,3 milj. USD2024: EBIT −42 milj. USD20242025: 27 milj. USD2025: EBIT −27 milj. USD202527−27
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Cue Biopharma, Inc.

Liiketoiminta

Osuus liikevaihdosta
Clinical-stage immunotherapy programs70 %

Internal drug candidates in oncology and autoimmune disease, including CUE-101, CUE-102, CUE-401 and the CUE-500 series.

Collaborative research and license revenue30 %

Milestone, research, and license revenue from partnered programs such as BI, IMSCP, LG Chem, Ono, and Merck.

Asiakkaat

Cue Biopharma does not sell approved drugs commercially; its current counterparties are pharmaceutical and biotechnology partners that fund or co-develop programs. In practice, the “customers” are collaboration partners, licensing counterparties, and eventually healthcare providers and patients if any candidate reaches commercialization. The company’s oncology and autoimmune assets are aimed at unmet-need indications where partners value differentiated biology and clinical de-risking.

Strategic pharma partners

Large pharmaceutical companies that license or co-develop programs such as CUE-501 to access differentiated biology and share development risk.

Biotechnology collaborators

Smaller biotech partners that fund research, option rights, or regional development in exchange for access to the platform.

Oncology patients and providers

Future end users for CUE-101/CUE-102 if approved, especially in HPV+ head and neck cancer and other solid tumors.

Autoimmune disease patients

Potential future users of CUE-401 and CUE-500 series therapies designed to restore immune balance.

Strategia

The company’s near-term strategy is to advance its most promising internal assets while using partnerships to extend capital and broaden development capacity. Management has highlighted CUE-401 as a priority IND candidate and is actively seeking collaborations for oncology assets such as CUE-101 and CUE-102, while the BI deal expands the partnered pipeline around CUE-501. This approach is meant to preserve optionality, reduce single-asset dependence, and improve the odds of eventual commercialization.

Advance CUE-401 into the clinicLyhyt aikaväli

A new IND-stage autoimmune asset can refresh the pipeline and create a near-term value catalyst.

Secure and expand strategic collaborationsLyhyt aikaväli

Partnering reduces funding burden and helps validate the platform across oncology and autoimmune disease.

Broaden the pipeline from the Immuno-STAT platformKeskipitkä aikaväli

A diversified pipeline lowers dependence on any single clinical outcome and increases partnering leverage.

Maantiede

Cue Biopharma is headquartered in the United States and conducts its core R&D there, while its business model depends on global partnering for development and eventual commercialization. The company’s disclosed collaboration structure includes worldwide rights in some agreements, so future economics may be spread across multiple regions even though the current operating base is U.S.-centric. Its risk profile also reflects international supply-chain and tariff exposure, including reliance on contract manufacturers and service providers that may operate in China.

Riskit

Cue Biopharma remains a development-stage company with recurring losses and no commercial product revenue, so financing and going-concern risk are central. Clinical, regulatory, and partnering execution risk is high because value depends on successful trial data, IND filings, and counterparties continuing to fund or advance programs. The company also faces supply-chain and tariff exposure, plus Nasdaq listing risk if it cannot maintain compliance.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Going-concern and liquidity risk1Clinical development failure2Partner concentration and termination risk3Supply-chain and tariff disruption4Nasdaq listing compliance5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Going-concern and liquidity riskVaikutus: KriittinenTodennäköisyys: Korkea

    The company has recurring losses and depends on external capital and collaboration receipts to fund operations.

    Kohdistuu: Development-stage operations and R&D spend

  2. Clinical development failureVaikutus: KorkeaTodennäköisyys: Korkea

    Pipeline value depends on positive efficacy, tolerability, and regulatory progress for candidates like CUE-101, CUE-102, and CUE-401.

    Kohdistuu: Lead oncology and autoimmune programs

  3. Partner concentration and termination riskVaikutus: KorkeaTodennäköisyys: Korkea

    Collaboration revenue is tied to a small number of agreements and can stop if partners terminate or slow work.

    KohdistuuBIIMSCPLG ChemPrior Ono/Merck agreements
  4. Supply-chain and tariff disruptionVaikutus: KeskitasoTodennäköisyys: Korkea

    Development and manufacturing may rely on external providers, including China-linked suppliers, which can be affected by trade restrictions.

    KohdistuuCMOsRaw materialsClinical supply
  5. Nasdaq listing complianceVaikutus: KeskitasoTodennäköisyys: Korkea

    Failure to maintain minimum bid price or other requirements could lead to delisting and reduced capital access.

    Kohdistuu: Public equity financing

Kysy Clarifolta: Cue Biopharma, Inc.

Kirjanpito

Harkinnanvaraiset erät
Collaboration revenue recognition

Revenue from BI, IMSCP, LG Chem, Ono and Merck depends on contract milestones and services performed, creating period-to-period volatility.

Vaikutus: Affects reported revenue and comparability across quarters

Research and development expense recognition

Most costs are expensed as incurred, and management does not allocate them by project, which obscures program economics.

Vaikutus: Affects operating loss and makes asset-level profitability hard to assess

Going-concern assessment

Recurring losses and limited cash runway require management judgment about future funding and operating continuity.

Vaikutus: Can influence disclosure, valuation, and investor perception

Contract liabilities and milestone estimates

Partner agreements can create short- and long-term liabilities and require judgment on timing of recognition.

Vaikutus: Affects balance sheet obligations and revenue timing

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Päivitetty: 24.9.2026

Cue Biopharma, Inc. (CUE) liikevaihto, tulos ja tunnusluvut 2025 – Clarifo